UK Stocks Mostly Subdued In Cautious Trade

(RTTNews) - U.K. stocks are turning in a mixed performance on Wednesday as investors largely refrain from making significant moves amid uncertainty about fresh talks between the U.S. and Iran. Investors are also digesting UK inflation data.

U.S. President Donald Trump has announced a unilateral indefinite extension to a two-week ceasefire until Tehran submitted a "unified proposal" and "discussions are concluded one way or the other."

Trump also said he would keep the naval blockade in place, which Iran's leaders have called an act of war.

Iran dismissed Trump's ceasefire extension as "meaningless" and said the Strait of Hormuz will remain closed until the U.S. blockade on Iranian ports is lifted.

The benchmark FTSE 100, which dropped to 10,476.79 after advancing to 10,523.30 earlier, was up 1.68 points at 10,499.77 about a quarter past noon.

Bunzl is rising more than 3%. The business supplies distributor kept its 2026 outlook after reporting Q1 trading in line with expectations.

St. James's Place, BP, Rio Tinto and Fresnillo are up 1.5%-2%. Croda International, SSE, National Grid, Glencore, Pearson, Anglo American Plc, M&G, LondonMetric Property, Associated British Foods and Barratt Redrow are gaining 1%-1.4%.

Tesco moved higher after announcing a new phase of its ongoing share buyback program.

Reckitt Benckiser is down 4.7% after group net revenue declined year-on-year for the first quarter of 2026.

Melrose Industries is declining 4.5%. Rolls-Royce Holdings dropped 2.9% and JD Sports Fashion is down 2.8%.

IAG, Haleon, Diageo, Convatec Group, AutoTrader Group, DCC, Smith & Nephew, Games Workshop and 3i Group are down 1%-2%.

British consumer price inflation increased in March to the highest level in three months, driven mainly by higher transport costs, data published by the Office for National Statistics showed.

The consumer price index climbed 3.3% year-on-year in March, faster than February's 3% stable increase. That was in line with expectations.